India's exports during the last three years are as under
|
Year |
Exports (Merchandise +Services) (USD Billion) |
Growth (%) |
|
2017-18 |
498.61 |
13.31 |
|
2018-19 |
538.08 |
7.91 |
|
2019-20 |
526.55 |
-2.14 |
Source: DGCI&S& RBI
Eexport targets are set for Special Economic Zones (SEZs)/Export Oriented Units (EOUs). The SEZ units/EOU units are under obligation to achieve positive Net Foreign Exchange (NFE) earning to be calculated cumulatively for a period of 5 years from the commencement of production. The total exports from SEZs and EOUs during the last two years and the current year is as under:
(Rs.in crore)
|
Year |
SEZs export |
EOUs export |
|
2018-19 |
7,01,179 |
87371.74 |
|
2019-20 |
7,96,669 |
102492.92 |
|
2020-21 (upto 31.12.2020) |
5,53,396 |
65602.04* |
* Provisional
Merchandise exports to Europe and other major western countries (USA, Canada and Mexico) exhibited a positive growth trend in 2017-18 and 2018-19. Year-wise exports during the last three years are as under:
(in USD Billion)
|
Countries |
2017-18 |
Growth% |
2018-19 |
Growth% |
2019-20 |
Growth% |
|
Europe |
60.35 |
13.16 |
64.38 |
6.68 |
60.56 |
-5.93 |
|
Other Western Countries |
||||||
|
USA |
47.88 |
13.42 |
52.41 |
9.46 |
53.09 |
1.30 |
|
Mexico |
3.78 |
9.30 |
3.84 |
1.55 |
3.62 |
-5.67 |
|
Canada |
2.51 |
25.05 |
2.85 |
13.78 |
2.85 |
0.01 |
|
Total |
54.17 |
13.61 |
59.10 |
9.10 |
59.56 |
0.79 |
Source: DGCI&S
As per World Bank data, some of the major sectors that showed a decline in global demand during 2019 (latest data available) include chemicals, fuels, textiles & clothing, machinery & electricals, metals and transportation. Of these, India’s exports showed a decline in respect of fuels, textiles & clothing and metals during the same period.
The following are some of the key steps taken by Government to increase exports
- Foreign Trade Policy (2015-20) extended by one year, i.e., upto 31-3-2021 due to the COVID-19 pandemic situation.
- Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended by one year, i.e., upto 31-3-2021.
- A new Scheme, Remission of Duties and Taxes on Exported Products (RoDTEP), has been launched with effect from 01.01.2021.
- Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.
- A comprehensive “Agriculture Export Policy” to provide an impetus to agricultural exports related to agriculture, horticulture, animal husbandry, fisheries and food processing sectors, is under implementation.
- Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors.
- Promoting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district.
- Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
- Package announced in light of the Covid pandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports.
This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Hardeep Singh Puri, in a written reply in the Lok Sabha yesterday.
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